Michael Cannon-Brookes Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $169.47, for a total transaction of $1,346,947.56. Following the completion of the transaction, the chief executive officer now directly owns 373,556 shares of the company’s stock, valued at approximately $63,306,535.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Michael Cannon-Brookes also recently made the following trade(s):

• On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.95, for a total transaction of $1,398,450.60.
• On Wednesday, July 17th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $180.42, for a total transaction of $1,433,978.16.
• On Monday, July 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $180.11, for a total transaction of $1,431,514.28.
• On Wednesday, July 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $173.13, for a total transaction of $1,376,037.24.
• On Monday, July 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $182.56, for a total transaction of $1,450,986.88.
• On Wednesday, June 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $170.45, for a total transaction of $1,354,736.60.
• On Monday, June 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.95, for a total transaction of $1,303,074.60.
• On Friday, June 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.43, for a total transaction of $1,267,149.64.
• On Wednesday, June 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.54, for a total transaction of $1,299,815.92.
• On Tuesday, May 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $165.51, for a total transaction of $1,363,967.91.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $177.32 on Friday. The firm has a market capitalization of $46.16 billion, a P/E ratio of -281.46 and a beta of 0.74. Atlassian Co. has a one year low of $152.34 and a one year high of $258.69. The company’s fifty day moving average is $170.19 and its two-hundred day moving average is $193.91. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.62 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.40) EPS. Analysts forecast that Atlassian Co. will post -0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of research analyst reports. TD Cowen cut their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Piper Sandler raised shares of Atlassian from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $200.00 to $225.00 in a report on Tuesday, July 2nd. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a report on Thursday, July 11th. Truist Financial cut their target price on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Finally, StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $228.81.

Institutional Investors Weigh In On Atlassian

Institutional investors have recently made changes to their positions in the stock. Kintegral Advisory LLC raised its stake in shares of Atlassian by 545.0% during the 2nd quarter. Kintegral Advisory LLC now owns 6,534 shares of the technology company’s stock worth $1,156,000 after buying an additional 5,521 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Atlassian by 32.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,855 shares of the technology company’s stock worth $328,000 after buying an additional 452 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Atlassian by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 783,688 shares of the technology company’s stock worth $138,619,000 after buying an additional 26,555 shares during the last quarter. Hills Bank & Trust Co acquired a new position in shares of Atlassian during the 2nd quarter worth $161,000. Finally, Nicholas Company Inc. raised its stake in shares of Atlassian by 34.5% during the 2nd quarter. Nicholas Company Inc. now owns 239,465 shares of the technology company’s stock worth $42,357,000 after buying an additional 61,485 shares during the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.